Section 125 Plans can be daunting to those who are considering adding one and for those who are currently administering a plan. This seminar will benefit both groups by providing information to help employers determine the benefits of a plan as well as help those with plans comply with new regulations.
- Cafeteria plan, HRA/HSA basics and implementation procedures
- Ongoing administration procedure
- The 125 and insurance products
- Overview of code and regulations
- Administration and compliance
- The attendee will be able to discuss types of plans to consider.
- The attendee will be able to identify plan design issues.
- The attendee will be able to review compliance issues.
8:30 a.m. - 9:30 a.m.
I. Definitions And Overview
A. What Is A Section 125 Cafeteria Plan?
B. What Are HSAs, HRAs And FSAs And Their Differences?
C. Advantages And Limitations Of Section 125 Cafeteria Plans
D. Salary Reduction Under Section 125 vs. HSAs Or HRAs
9:30 a.m. - 10:30 a.m.
II. Cafeteria Plan, HRA/HSA Basics
And Implementation Procedures
A. Overview Of Plan Setup Steps
B. Considerations When Evaluating Employer Groups
2. Turnover Rate
3. Pay Levels
4. Group Psychology
5. Multiple Locations
C. Product Selection
D. Enrollment Procedure
E. Plan Implementation
F. Loading Payroll
G. Discrimination Testing
H. Plan Documents
I. 5500 Reporting
10:30 a.m. - 10:40 a.m.
10:40 a.m. - 11:40 a.m.
III. Ongoing Administration
A. Different Plan Designs And Administration Considerations
3. Employer Contributions vs. Salary Reduction
B. Discrimination Testing Throughout The Year
G. Change Of Family Status Rules
H. Debit Cards vs. Paper Claim Administration
I. Plan Termination Considerations
J. The Role Of The TPA
K. The Role Of The Product Provider
11:40 a.m. - 12:40 p.m.
Lunch (On Your Own)
12:40 p.m. - 1:50 p.m.
IV. The 125 And Insurance Products
A. Who Should Use The 125 Benefit And Why?
B. The Products And Utilization
C. Tax Implication On Pre-Taxed Products
D. Consumer Directed Health Care Plan Products
E. How To Utilize The HRA And The HSA For The Benefit Of The Employer And Employees
1:50 p.m. - 2:00 p.m.
2:00 p.m. - 3:00 p.m.
V. Overview Of Code And
A. Code Section 125 And Code Section 223
B. Regulations 1.125-1, 1.125-2, 1.125-3 And 1.125-4
C. Other IRS And DOL Guidance And Requirements
3:00 p.m. - 4:00 p.m.
VI. Administration And Compliance
A. When Is Form 5500 Required?
B. Nondiscrimination Testing Of Section 125 Plan And Underlying Benefits
C. Third Party Administration Of FSA Claims
D. Requirements Of A Plan Document, And Other Written Documentation
E. Update On Recent Legal Changes Affecting Cafeteria Plans
4:00 p.m. - 4:30 p.m.
VII. Questions And Answers